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Scam Forex brokers list

Broker
Status
Vote Rating
Year
Reviews
Reliability Rating
icon
83%
17%
-
-
icon
40%
60%
2017
-
icon
41%
59%
-
-
icon
41%
59%
2021
-
icon
41%
59%
2020
-
icon
41%
59%
1982
-
icon
41%
59%
-
-
icon
41%
59%
2022
-
icon
41%
59%
2015
-
icon
20%
80%
2022
-
icon
20%
80%
2006
-
icon
21%
79%
2013
-
icon
21%
79%
2001
-
icon
21%
79%
2022
-
icon
22%
78%
2023
-
icon
22%
78%
2013
-
icon
22%
78%
2013
-
icon
22%
78%
2010
-
icon
22%
78%
-
-
icon
22%
78%
2013
-
icon
22%
78%
2023
-
icon
22%
78%
2022
-
icon
22%
78%
2022
-
icon
22%
78%
2014
-
icon
22%
78%
-
-
icon
22%
78%
2022
-
icon
22%
78%
1995
-
icon
22%
78%
2022
-
icon
22%
78%
2000
-
icon
22%
78%
2006
-
icon
22%
78%
1997
-
icon
22%
78%
1997
-
icon
22%
78%
1996
-
icon
22%
78%
2023
-
icon
22%
78%
2001
-
icon
22%
78%
1992
-
icon
22%
78%
2004
-
icon
22%
78%
2022
-
icon
22%
78%
1999
-
icon
22%
78%
2008
-
icon
22%
78%
2010
-
icon
22%
78%
2009
-
icon
22%
78%
1998
-
icon
22%
78%
2010
-
icon
22%
78%
2010
-
icon
22%
78%
2017
-
icon
22%
78%
2022
-
icon
22%
78%
2007
-
icon
22%
78%
2016
-
icon
22%
78%
2008
-
icon
22%
78%
2016
-
icon
22%
78%
2016
-
icon
22%
78%
2019
-
icon
22%
78%
2014
-
icon
22%
78%
2010
-
icon
22%
78%
2021
-
icon
22%
78%
2011
-
icon
22%
78%
1996
-
icon
22%
78%
2007
-
icon
22%
78%
2012
-
icon
22%
78%
2015
-
icon
22%
78%
1997
-
icon
22%
78%
1974
-
icon
22%
78%
2020
-
icon
22%
78%
2009
-
icon
22%
78%
2010
-
icon
22%
78%
2003
-
icon
22%
78%
2011
-
icon
22%
78%
2013
-
icon
22%
78%
2005
-
icon
22%
78%
2017
-
icon
22%
78%
2017
-
icon
22%
78%
1993
-
icon
22%
78%
2006
-
icon
22%
78%
2012
-
icon
22%
78%
2012
-
icon
22%
78%
2007
-
icon
22%
78%
2011
-
icon
22%
78%
2009
-
icon
22%
78%
2007
-
icon
22%
78%
2017
-
icon
22%
78%
2008
-
icon
22%
78%
2007
-
icon
22%
78%
2015
-
icon
22%
78%
2000
-
icon
22%
78%
2003
-
icon
22%
78%
-
-
icon
22%
78%
2009
-
icon
22%
78%
2005
-
icon
22%
78%
2017
-
icon
22%
78%
1999
-
icon
22%
78%
2015
-
icon
22%
78%
2019
-
icon
22%
78%
2013
-
icon
22%
78%
2017
-
icon
22%
78%
2005
-
icon
22%
78%
2004
-
icon
22%
78%
2017
-
icon
22%
78%
2004
-
icon
22%
78%
2017
-
icon
22%
78%
2010
-
icon
22%
78%
2012
-
icon
22%
78%
2011
-
icon
22%
78%
2010
-
icon
22%
78%
2005
-
icon
22%
78%
2011
-
icon
22%
78%
2012
-
icon
22%
78%
1995
-
icon
22%
78%
2015
-
icon
22%
78%
2001
-
icon
22%
78%
2022
-
icon
22%
78%
2023
-
icon
22%
78%
2022
-
icon
22%
78%
2020
-
icon
22%
78%
2020
-
icon
22%
78%
2023
-
icon
22%
78%
1990
-
icon
22%
78%
2011
-
icon
22%
78%
2000
-
icon
22%
78%
2008
-
icon
22%
78%
1997
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2022
-
icon
22%
78%
2023
-
icon
22%
78%
2012
-
icon
22%
78%
2022
-
icon
22%
78%
2002
-
icon
22%
78%
2013
-
icon
22%
78%
2015
-
icon
22%
78%
2010
-
icon
22%
78%
2011
-
icon
22%
78%
2008
-
icon
22%
78%
2023
-
icon
22%
78%
2015
-
icon
22%
78%
2022
-
icon
22%
78%
1998
-
icon
22%
78%
2022
-
icon
22%
78%
2023
-
icon
22%
78%
2022
-
icon
22%
78%
2018
-
icon
22%
78%
2023
-
icon
22%
78%
2012
-
icon
22%
78%
2023
-
icon
22%
78%
2022
-
icon
22%
78%
2021
-
icon
22%
78%
2021
-
icon
22%
78%
2022
-
icon
22%
78%
2021
-
icon
22%
78%
2021
-
icon
22%
78%
2022
-
icon
22%
78%
2021
-
icon
22%
78%
2022
-
icon
22%
78%
2022
-
icon
22%
78%
2022
-
icon
22%
78%
2022
-
icon
22%
78%
2021
-
icon
22%
78%
2023
-
icon
22%
78%
2024
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2022
-
icon
22%
78%
2022
-
icon
22%
78%
2022
-
icon
22%
78%
2022
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2023
-
icon
22%
78%
2024
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2024
-
icon
22%
78%
2023
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2023
-
icon
22%
78%
2017
-
icon
22%
78%
2017
-
icon
22%
78%
2023
-
icon
22%
78%
2023
-
icon
22%
78%
2003
-
icon
22%
78%
2008
-
icon
22%
78%
2024
-
icon
22%
78%
2018
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2015
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2012
-
icon
22%
78%
2015
-
icon
22%
78%
2018
-
icon
22%
78%
2022
-
icon
22%
78%
2024
-
icon
22%
78%
1996
-
icon
22%
78%
2022
-
icon
22%
78%
2018
-
icon
22%
78%
2014
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2013
-
icon
22%
78%
2024
-
icon
22%
78%
2017
-
icon
22%
78%
2023
-
icon
22%
78%
2017
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2017
-
icon
22%
78%
2018
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2024
-
icon
22%
78%
2003
-

Latest Reviews

Yura

My brothers, I’m unlucky, I always end up scammed like this. What doesn’t save me is the fact that they are tailor-made. Don't do like me or you won't make any money. Don't mess with Smart rVid.

Read more

Arkady

I was an idiot and thought that this was a normal broker with whom I could make good money if I didn’t take too much risk, plus they promised me consultations so that I would feel confident. Therefore, I opened an account with $1000 at once to get wider leverage and better conditions. It turned out that there is nothing good there; the spreads are very wide, and at the moment of transactions there are hidden commissions that turn the profit into dust. In the end, I got tired and I submitted a withdrawal; it turned out that they were not going to give me the money until I paid the insurance of $500. Of course, I refused and they immediately gave me a ban.

Read more

Vladislav

This is a very bad broker and you can’t trust him, he lures you in, I know from experience. He started calling me about a week ago and actively forced me to open an account with him, and this continued for 2 days until I agreed. They immediately demanded insurance fees from me, I refused to pay them and received an account ban, that is, the scammers simply stole my money for themselves and did not give anything back. I already contacted the prosecutor’s office and they said that these swindlers are sitting somewhere in another country.

Read more

Grisha

The last time I trust a broker from the Internet is simply no good anymore. If others were simply cutting off my profit, this particular idiot didn’t even want to return the deposit. Not only did he constantly put a spoke in the wheels with his jumps in spreads, but then he also canceled withdrawal requests one after another without explaining the reasons. I tried to contact them in different ways, but apparently they no longer need what they have, they have already gotten through the roof.

Read more

Andrey

I was seduced by registration in three countries and a solid website, everything at first glance looks very convincing. Therefore, I topped up the deposit. I was hoping to make good money, but it turned out that I donated my earned money to the afirists. When he received the first thousand from me, he immediately wanted more and began persuading me to give him more, without giving any objective reasons. They just demanded and that’s all, I naturally refused and put everything on the line, but I failed to take anything away.

Read more

Arthur

I never managed to register even though I was really excited about it. I was very interested in what this swindler was offering there. As I understand it, the promo code is given only to those who are definitely ready for a replenishment. I just spilled it and lost my memory.

Read more
All reviews

Blacklist of Forex Brokers – what will happen to your deposit if you open an account?

Forex brokerage sector is rife with scammers. Fake brokers and dealers lure you in and then swindle your deposit. They employ a variety of methods, from blocking withdrawals and enticing additional deposits to assisting in recovering stolen capital.

The Forex broker blacklist assists novice traders in filtering out most of the scammers. It grows with each passing day. Scammers have numerous domains and aliases.

Who Ends Up on the Forex Broker Blacklist?

The majority of swindlers find their way onto the blacklist for a year or less, but there are also long-standing ones who prey on traders for years.

The blacklist predominantly features shady outfits, creating simple websites with 5–10 pages or single-page sites. They share common characteristics:

  • Lack of specifics about the services provided.
  • Piling up of unattainable promises. The broker boasts that everyone who opens a “Personal Cabinet” will become a millionaire without effort. No need to be a professional trader to mint money.
  • Minimal contact information. Forex scammers rely on message forms and emails. If there’s an address, it’s fake.
  • Dash instead of registration, licenses, management, and personnel information.

Blacklisted brokers often pose as legitimate legal entities. Currently, it’s trendy to register in the UK, where you can remotely establish an LLC.

Such scams last for about a year. Afterward, they are abandoned. The reason is that in the UK, the first financial report must be submitted to regulatory authorities 12 months after registration.

Brokers with offshore licenses also find their way into the blacklist. They register in places like Belize, Saint Vincent and the Grenadines, or the Bahamas. Obtaining a license there is easier than in countries with strict financial market regulations.

The regulator of Saint Vincent and the Grenadines is so tired of constant complaints about forex scams that they have a warning on their website stating that they regulate banks, investment funds, and insurers, but brokers are on their own.

The blacklist includes all companies that operate legally in jurisdictions with strict regulation but engage in fraudulent activities. For instance, there are a few companies in the UK that meticulously abide by laws concerning unqualified traders, providing narrow leverage and protection against negative balance. However, they cater to qualified traders, squeezing them dry by offering excessive leverage that is sufficient to lead to losses due to high market volatility.

Being classified as a qualified trader should be very challenging, but fraudulent brokers do everything to simplify this process. For example, they offer clients who make substantial financial deals a bought property as a client. This is one of the requirements for the “qualified trader” status.

The Central Bank’s Broker Blacklist: How Does It Help Traders?

The website of the Russian financial regulator has a section dedicated to scammers. There, a list of dubious companies is available, which traders can consult to avoid pitfalls.

The Central Bank’s blacklist allows checking companies that have been in the market for 3-4 months. It includes those receiving complaints. If there are no complaints, forex scammers won’t be there. Therefore, the Central Bank’s blacklist is an important, albeit auxiliary, tool for verification.

Understanding the Blacklist of Credit Brokers

Credit brokers are individuals or entities legally assisting people in obtaining bank loans. They charge fees ranging from 2% to 5% of the loan amount.

However, there are black credit brokers who demand 20–30% of the loan amount for their services. They promise to facilitate connections to individuals working in banks who can arrange loans for compensation.

Black credit brokers operate unlawfully, often aiding clients in obtaining loans through fake employment documents.

Identifying black credit brokers is usually possible through their demand for paid consultations. Legitimate brokers don’t charge for such consultations.

The blacklist of credit brokers serves to protect those seeking loans. Firstly, scammers violate the law. Secondly, statistics show that in 60% of cases, individuals would have been able to obtain a bank loan if they approached financial institutions themselves.

The Blacklist of Credit Brokers and Scammers: A Saving Grace for Money

The blacklist is updated daily and covers various fields such as trading, credit brokerage, and other financial processes. It is very helpful, although not a cure-all. If a desired broker is not on the list, it doesn’t guarantee their reliability.

It’s important to be able to independently verify a broker’s age, license, registration, and service offerings. If this proves difficult, seeking honest reviews and assessments is crucial, but only on independent resources.